UK banks gain as US jobs data shifts Fed rate cut expectations
** UK's FTSE 350 Bank .FTNMX301010 index climbs as much as 2.42% to touch an over two-month high of 4,440.17 points; last up 2.24%
** U.S. job growth accelerated in Sept and unemployment slipped, raising bets that the Fed will likely not cut interest rates by as much as previously expected
** The US Fed actions are vital to other central banks due to the dollar's international status and are an important guiding factor for monetary policy decision makers of other economies
** "Financial markets are pricing in the chances of a cut in November at 93%, but are putting bets on a more usual 0.25% reduction" - Susannah Streeter, head of money and markets, Hargreaves Lansdown
** Banks benefit from higher interest rates
** Standard Chartered STAN.L top pct gainer in the UK banking sector index, up 3.8%
** Natwest NWG.L and Barclays BARC.L gain 3.6% and 3.2%, respectively
Reporting by Aby Jose Koilparambil in Bengaluru
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